Transfer of Under Construction Property is one of the most complex topics in real estate. It is situational and there are no right or wrong answers. Transfer of Under Construction Property depends on multiple factors like Construction Status, Home Loan of a Seller, Builder or Landowner share etc. The buyer is in a dilemma on how to make payment and what is the right procedure to execute the deal. The situation is complex if the occupancy or completion certificate is issued, but the property is yet to be registered. Another confusion is who will bear the cost of VAT and Service Tax i.e. buyer ... Read More
10 Reasons for Defective Property Title
Defective Property Title is a nightmare for any buyer. It is true when a buyer come to know about Defective Property Title after paying substantial amount to seller or deal is over. From my experience, i can conclude that each case is different and there can be infinite reasons for Defective Property Title. I always suggest my clients to hire a local property lawyer who can check the title of the property and issue Title Search Report (TSR). Under construction property is riskier compared to resale property. Reason being, Lawyer and Home Loan provider check for Defective Property Title as on ... Read More
11 Questions You Should Ask Builder
Its an irony that we don't pose relevant questions to builder while buying a property. A typical trait is that we spend more time probing and bargaining for low value items than big ticket purchase like a house. In a recent behavioral study, it was concluded that we probe and bargain most while buying from roadside stalls. Nothing new in this as i have never seen people bargaining in malls. This study holds true for property purchase from builders. A buyer is afraid of asking too many queries from builder. If i suggest my clients to ask few imp questions from builder, Builder has standard ... Read More